Market News

Midday livestock markets

Cattle country is slow to start on Thursday, but the expectation is packer inquiry will start to improve over the next several hours. It is possible significant trade volume could be delayed until sometime on Friday. There are a few bids in Nebraska according to private sources at 226.00 on the dressed basis. Asking prices are 236.00 plus in the North and 150.00 in the South.

Boxed beef cutout values are mixed with the choice up .58 at 244.82, and select down .07 at 233.54.

Feeder cattle receipts at the Huss Platte Valley Auction, Kearney, Nebraska totaled 2155 head on Wednesday. Compared to two weeks ago, 900 pound steers sold 7.00 lower, not enough comparable offerings in other weights of steers and heifers for a market trend. Overall demand was moderate to good for load lots of steers and front end pregnancy open heifers. Feeder steers medium and large 1 averaging 909 pounds traded at 206.02 per hundredweight. 894 pound fleshy heifers brought 172.75.

Barrows and gilts in the Iowa/Minnesota and Eastern direct trade areas are not reported due to confidentiality. Western hogs are down .94 with a weighted average of 73.37 on a carcass basis, nationally the market is down .77 at 72.90. Missouri direct base carcass meat price is steady from 67.00 to 68.00. Midwest hogs on a live basis are steady from 45.00 to 51.00.

For the week ending August 22, Iowa barrows and gilts averaged 277.2 pounds, 1.7 pounds heavier than the previous week and 4.9 pounds lighter than 2014.

Pork cut-out imploded at midweek with all major primals hit hard with the exception of the butt. The $90 level seems to be a point of price resistance for retailers and food managers.

The pork carcass cutout value is down .47 FOB plant at 85.36.